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Dec 31, 2012
12/12
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economy is arguably improving, the german economy is deteriorating and much of the eurozone economy is also deteriorating. they will be in recession throughout 2013. and as the financial times points out today, it's been fine for the ecb to promise it would wait in for 2012, but it may physically have to do that for 2013 and that may not be enough for draghi on their own. you'll have to have more political action from the politicians and of course you also have the question as to whether the likes of greece will hit their deficit target. so next year is tough, but for the moment let's have a pass. >> i think they will do that and so are we. happy new year. >>> let's bring in mary thompson at the big board. down 2 points. >> what we're mostly listening for are any comments out of washington. as you mentioned, we have a mixed market. dow down slightly, but nasdaq and s&p holding on to gains. the market reacting to any comments, the latest from harry reid who at around 11:00 was saying that some issues still need to be resolved before they bring legislation to the floor. so in the wake of
economy is arguably improving, the german economy is deteriorating and much of the eurozone economy is also deteriorating. they will be in recession throughout 2013. and as the financial times points out today, it's been fine for the ecb to promise it would wait in for 2012, but it may physically have to do that for 2013 and that may not be enough for draghi on their own. you'll have to have more political action from the politicians and of course you also have the question as to whether the...
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Dec 28, 2012
12/12
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economy. that's bleeding over into the european markets this morning. the s&p 500, which along with the dow and the nasdaq are weaker this morning, down for the fifth straight session. of course, yesterday was really a whipsaw session with the markets reacting tny kind of headlines across about any progress or lack thereof on the fiscal cliff talks. so we're keeping watch on that. nevertheless, while we've seen weakness later, the consensus among traders that i speak to and whose notes i read, et cetera, they say they are expecting some kind of maybe band-aid deal that will limit the effects, if, indeed, we go over -- or a band-aid deal, not a grand bargain on lawmakers, to avoid the fiscal cliff, before that january 1st deadline. these are some of the sectors that we're keeping watch on. financials were among the worst performing sectors yesterday. as we look at them, they are extending those losses today. they've been a very strong performer in 2012, but concerns about the cliff are having a
economy. that's bleeding over into the european markets this morning. the s&p 500, which along with the dow and the nasdaq are weaker this morning, down for the fifth straight session. of course, yesterday was really a whipsaw session with the markets reacting tny kind of headlines across about any progress or lack thereof on the fiscal cliff talks. so we're keeping watch on that. nevertheless, while we've seen weakness later, the consensus among traders that i speak to and whose notes i...
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Dec 27, 2012
12/12
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western economies rely on growth. you stop growing, you're like a sha shark, you die, we need to do that for the debts we're piling up. what fuels growth is the next generation of young workerings. young workers are not coming into the workforce. look at southern europe with youth unemployment. take 15% youth unemployment in spain and compound that with the fact they stop having babies. what happens in a generation or two. >> i tell you, bill, you got me thinking, i encourage readers to read this. in some of the biggest developed economies pushed the most growth are below a 2% utility rate. this has to be dealt with at some point. back to you. >> thanks, rick. >>> road trip and big bank is in highways an byways in the road for yield. we'll explain how. and actually. the lexus december to remember sales event is on. this is the pursuit of perfection. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for
western economies rely on growth. you stop growing, you're like a sha shark, you die, we need to do that for the debts we're piling up. what fuels growth is the next generation of young workerings. young workers are not coming into the workforce. look at southern europe with youth unemployment. take 15% youth unemployment in spain and compound that with the fact they stop having babies. what happens in a generation or two. >> i tell you, bill, you got me thinking, i encourage readers to...
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Dec 26, 2012
12/12
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what we have here, i think, is a discount driven economy. consumers are looking for the best possible prices. we look at search term data, i analyzed about 1.2 million search terms over the last week to the top retail 500. there's been about a 48% increase in searches that contain percent off or discount. that's a clear indication that consumers are really waiting for the best possible price. >> in terms of most searched products, you would expect, i don't know, an ipad, maybe a kindle fire, but uggs tops the list 2308d by the fire and by the ipad. barbie, ipad mini. does uggs come as a surprise or is this always the case? >> it comes as a surprise to me every year over the last seven years. it was the numb one last year. it was a bit of a surprise to me this year because we've heard some news from decker that there was a decrease in ugs sales. ugs are a late fourth quarter product. out of 1.2 million search terms, it was the number one searched product so that i think indicates that we'll probably see a little bit of a bump of sales in ugs
what we have here, i think, is a discount driven economy. consumers are looking for the best possible prices. we look at search term data, i analyzed about 1.2 million search terms over the last week to the top retail 500. there's been about a 48% increase in searches that contain percent off or discount. that's a clear indication that consumers are really waiting for the best possible price. >> in terms of most searched products, you would expect, i don't know, an ipad, maybe a kindle...
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Dec 24, 2012
12/12
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but what about the economy? bank rate says one in three consumers tell it the fiscal cliff is making them hold back on spending and budgets are on everyone's mind. >> definitely shopping on a budget because i just wrote a book and i had to spend a lot of money to get the book printed so i have to be very careful. >> we're always on a budget but we always exceed it. >> my budget this year is lower than last year but it's going okay. i am still able to get people little gifts here and there. >> we're spending a lot of money this year. we're buying everybody gifts this year. just because, i guess, it's almost the end of the world. >> well, it's not the end of the world. she still has to pay her credit card bills. costco and nordstrom, he said this weekend it looks like it was a little tepid and it is very tough to gauge how online sales have been. >> everybody is up extremely strongly online but at the same time i think a lot of the retailers gave such good discounts and for so long so early that i think they pulle
but what about the economy? bank rate says one in three consumers tell it the fiscal cliff is making them hold back on spending and budgets are on everyone's mind. >> definitely shopping on a budget because i just wrote a book and i had to spend a lot of money to get the book printed so i have to be very careful. >> we're always on a budget but we always exceed it. >> my budget this year is lower than last year but it's going okay. i am still able to get people little gifts...
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Dec 21, 2012
12/12
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economy. we had great numbers yesterday. we had a good head of steam in housing and durable goods. >> better than expected at least. >> i think you could cool the economy a little bit. but unlike 2008, where i was worried that my paycheck wouldn't cash and my bank would fail, unlike the debt ceiling -- >> i know that. i'm saying it is a very, very different time now, no doubt about it. the only thing being we're relying on our leaders in washington to try to craft some sort of solution. >> did you have quotes around the word leader then? i'm only watching your lips. if you were to type that, would there be quotes around leaders? >> yes. >> thank you. i rest my case. >> i'm willing to take those quotes off. >> if they show that they are truly leaders without quotes. >> i come to work every day, my tallahassee paycheck, still in my wallet. i was a reporter. i made $137 a week. and if i had seen that go down to 127, i would have been angry. that was my subsistence. there are people who play for d
economy. we had great numbers yesterday. we had a good head of steam in housing and durable goods. >> better than expected at least. >> i think you could cool the economy a little bit. but unlike 2008, where i was worried that my paycheck wouldn't cash and my bank would fail, unlike the debt ceiling -- >> i know that. i'm saying it is a very, very different time now, no doubt about it. the only thing being we're relying on our leaders in washington to try to craft some sort of...
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Dec 20, 2012
12/12
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economy tom porcelli will join us live. plus ups expects to have the busiest day of the year for shipping. we'll have a live report still ahead. tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5373. you can stay in and like something... or you can get out there and actually like something. the lexus december to remember sales event is on. this is the pursuit of perfection. can i still ship a gift in tim
economy tom porcelli will join us live. plus ups expects to have the busiest day of the year for shipping. we'll have a live report still ahead. tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace,...
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Dec 19, 2012
12/12
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if you consider it's an export economy, not a consumption economy, tell me exactly why it's so bad to have a little deflation so basic middle class japanese pay less for their goods and services? what's wrong with that? >> nothing. you know, deflation is fine. they got to get that economy going. the only way they're really going to do that, i think, on the longer term per specti -- perspective is to weaken that yen. they need to lift the exports in order to drive that growth. the only problem is -- >> i'll tell you what, if you're in europe and looking at the way the dollar is flying against the yen, especially germany, also in an export economy, i think this is going to be a big setup for a little confrontational export tariffs or issues. we have to run, adrian. always a pleasure, sir. >> thank you. >> thanks so much, rick. rick santelli in chicago. in a few minutes, the president will make a statement on gun control and potential new policies in the wake of the shooting in newtown, connecticut. that's a live shot of the briefing room. we'll get you nose comments live when they happe
if you consider it's an export economy, not a consumption economy, tell me exactly why it's so bad to have a little deflation so basic middle class japanese pay less for their goods and services? what's wrong with that? >> nothing. you know, deflation is fine. they got to get that economy going. the only way they're really going to do that, i think, on the longer term per specti -- perspective is to weaken that yen. they need to lift the exports in order to drive that growth. the only...
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Dec 18, 2012
12/12
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the economy and the fiscal cliff with henry mcvey. head of global macro and asset allocation. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local mercedes-benz dealer. >>> greenberg is out with his list of the worst ceos of 2012. number five for us? >> all day long i'll be doing this. who is the worst ceo of 2012? somebody who's been on the worst list in prior years, but is on my list for the second
the economy and the fiscal cliff with henry mcvey. head of global macro and asset allocation. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or...
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Dec 17, 2012
12/12
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so what does lacker think we should do now when it comes to the economy. steve liesman is now joined by jeffrey lacker. steve, take it away. >> david, thanks very much. i'm here with jeff lacker, the lone dissenter in the last fed meeting. i think you dissented all year long. >> true. >> let's get into the reason why you dissented. in the past you dissented on the purchases. this time there was a new aspect to the statement. you dissented on the issue of the economic targets. what's wrong with 6.5% unemployment and 2.5%? >> i was happy to get rid of the calendar date. i thought it was flawed, created awkward problems for us when the time came to adjust it one way or another. i was happy to get rid of that. i agreed to that part of the committee's decision. i think that setting a numerical threshold for unemployment, i would have preferred a qualitative approach to describing conditions under which we'd -- we're likely to start raising rates. numerical threshold for unemployment is risky for a couple of reasons. first, because no one's statistic can really
so what does lacker think we should do now when it comes to the economy. steve liesman is now joined by jeffrey lacker. steve, take it away. >> david, thanks very much. i'm here with jeff lacker, the lone dissenter in the last fed meeting. i think you dissented all year long. >> true. >> let's get into the reason why you dissented. in the past you dissented on the purchases. this time there was a new aspect to the statement. you dissented on the issue of the economic targets....
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Dec 14, 2012
12/12
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it is harmful to the economy. it's so bad, in fact, that in anticipation of the harm it would do, the federal reserve doubled down on its dangerous policy of quantitative easing. they only did that for one reason, they're so worried about the future, now we'll come along with the huge tax increase, and spending cuts, a dangerous policy to just say, okay, let's just go over the cliff. we may end up doing it. the secretary's exactly right. these are tough negotiations. and like all tough negotiations, they almost always get settled at the end. but the problem is, the time frame is shrinking quickly. the secretary's suggestion of tuesday is probably close to right. if we don't have something pretty firm at that point, we're going to have to go to one of the two alternatives i described, go over the fiscal cliff as bad as that is, or agree we're getting close and kick the can down the road to early next year, and continue to fight. sometimes it's better just to live to fight another day. >> mr. secretary, i was fascin
it is harmful to the economy. it's so bad, in fact, that in anticipation of the harm it would do, the federal reserve doubled down on its dangerous policy of quantitative easing. they only did that for one reason, they're so worried about the future, now we'll come along with the huge tax increase, and spending cuts, a dangerous policy to just say, okay, let's just go over the cliff. we may end up doing it. the secretary's exactly right. these are tough negotiations. and like all tough...
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Dec 13, 2012
12/12
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economy. obviously, if you just look at the breakout, only 10%. but the spinoffs of housing, automotive, very good, both in bull market mode. i attribute a lot of that to what the fed has done. gave lot of credit to the fed, perhaps, but also feel the debate shifted yesterday in washington. i began to hear way too many people say, you know what the president is curiously unengaged when it comes to cuts. i have always felt the president had the upper hand in this debate. i listened to bernanke and bernanke says, listen, i know they aren't going to come to deal. i see a lot of republicans on air saying we start to understand what they are they want as cuts. not hearing anything from the president. made me feel grim about the fiscal cliff, good about what the fed wants to do, very grim about the power of the fed, beyond what it's already done. >> the "wall street journal"/nbc news poll of americans about the fiscal cliff, some very interesting findings, just to that point, jim, two-thirds polled want congress to strike a deal and cut the budget, even
economy. obviously, if you just look at the breakout, only 10%. but the spinoffs of housing, automotive, very good, both in bull market mode. i attribute a lot of that to what the fed has done. gave lot of credit to the fed, perhaps, but also feel the debate shifted yesterday in washington. i began to hear way too many people say, you know what the president is curiously unengaged when it comes to cuts. i have always felt the president had the upper hand in this debate. i listened to bernanke...
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Dec 12, 2012
12/12
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what does goldman have to say about the state of the economy. we'll get that exclusive a little bit later in the show. costco, as we said, set to open higher after that better than expected number. will other retailers follow suit. we'll get the answer when the opening bell rings in just about 4 1/2 minutes. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from ch [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science.
what does goldman have to say about the state of the economy. we'll get that exclusive a little bit later in the show. costco, as we said, set to open higher after that better than expected number. will other retailers follow suit. we'll get the answer when the opening bell rings in just about 4 1/2 minutes. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores....
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Dec 11, 2012
12/12
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the economy's not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger we could end up with some damaging tax increases, and nothing to show for it. >> jim, quick reaction to that exchange between you and grover? >> there was a lot of positives here. grover wants to put cameras in the room. when i cover the florida legislature, how many years ago was that, they put cameras in the room. you know what happened, a lot of people started making a lot of sense. so i think that grover makes some good points, because you wouldn't get this kind of rancor. >> jim, good to have you down there. we need you down there today. we want to draw your attention to the screen here. david and melissa was halted for news pending. and here is some news. >> this goes back, of course, if you recall, liberty owned a stake in expedia. trip adviser was spun off from expedia. but they also still held a stake there. i have to look in a bit more, but there have always been a l
the economy's not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger we could end up with some damaging tax increases, and nothing to show for it. >> jim, quick reaction to that exchange between you and grover? >> there was a lot of positives here. grover wants to put cameras in the room. when i cover the florida legislature, how many years ago was that, they put cameras in the room. you know what happened, a lot...
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Dec 10, 2012
12/12
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and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out to be the absolute best indicator on the top and when it became oversold. so this is what rich said to me, forget about what people are telling you in the real economy. when you manage money it's about what the stock market is thinking. these are the pivotal five reasons why the stock market will go higher into the end of the year and early next year. it's very simple. contra investment sentiment. you can't find anyone bullish on the stock market other than a handful of strategists. bond fund inflows. if we were anywhere near our top of
and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out...
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Dec 5, 2012
12/12
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they are keeping the economy growing. i listened to what you just said and i heard similar things for the last 3 1/2 years whether it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months of time on the markets. if pmis do not improve, will we see growth? what would you say to that view? >> i mean, i'm pretty simple on this. i do not believe and we could debate this probably all day that quantitative easing itself has helped the economy at all. banks put that money right back to the fed as excess reserves. it hasn't boosted money in the economy. i don't believe that we've seen a false rally or sugar high. i think the growth in the economy and growth in the markets has been driven by productivity and profits. i think it's
they are keeping the economy growing. i listened to what you just said and i heard similar things for the last 3 1/2 years whether it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months...
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Dec 4, 2012
12/12
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that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the cliff. chi chief washington correspondent john harwood is outside of the white house this morning. how do business leaders change the equation? >> reporter: the president is trying to orchestrate a consensus behind his approach to deficit reduction. this is a group part of the national governors association executive committee. a diverse group. he carried three states he represents and governors include scott walker, leader of conservative government reform movement going after public employee pensions and shrink government obligations that way. governors
that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the...
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Dec 3, 2012
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on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i think is a bad idea, that's 30 to $35 billion a year. i heard many democrats say that's a small amount, why shouldn't we do that? that's about halfway to the total amount they're talking about taxes. but whent's that, it's small. but when it's the 70 to $80 billion am toortized over ten years, all of a sudden it's big. i'm not saying don't raise taxes. if i signed the pledge, i would do it for good reasons. i haven't seen a good reason. i haven't seen a plan that promotes the big guy in the room. >> see you in the next hour, rick. rick santelli live in chicago on cnbc. >>> it's tweet time. a new study finds one in three ame
on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i...
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Nov 28, 2012
11/12
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>> it's a very bifurcated economy today with the consumer. you have high end consumers that are still feeling pretty good but in very basic every day needs like food as well as basic services, et cetera, people no matter what economic strata they're in, they are trying to save on those basics. >> explains a lot about where we are. >> took my breath away. what he's saying is there's a huge percentage of people trying to pay for dinner and dinner is tough to come by and you forget about that on a fiscal cliff discussion that will be even more difficult for people to pay for dinner and he did this acquisition because he knows people are hurting in this country. >> there's the opening bell. s&p at the top of your screen. here's big board at that. prosperity bank shares marking transfer from the nasdaq and over at the nasdaq. >> you're talking about dinner. we are having discussion about whole foods under pressure of late. the company missed. the cfo resigned. never a good thing for a company when you hear a cfo resigning. stock down 18.25%. small
>> it's a very bifurcated economy today with the consumer. you have high end consumers that are still feeling pretty good but in very basic every day needs like food as well as basic services, et cetera, people no matter what economic strata they're in, they are trying to save on those basics. >> explains a lot about where we are. >> took my breath away. what he's saying is there's a huge percentage of people trying to pay for dinner and dinner is tough to come by and you...
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Nov 26, 2012
11/12
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we are here part of our road trip speaking about the economy, the fiscal cliff. now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be robust. so far, it hasn't been impacted at all. we're actually looking forward to a pretty good 2013. >> are your clients saying, hey, mark, i want to give you more business, but i'm worried about this fiscal cliff thing. i'm worried about taxes, worried about the economy. are you hearing that at all? >> well, we haven't heard specifically from our clients. and we handle a lot of global brand brands. but i have heard it from other ceos in the region. they're tapping the brakes and not investing to the degree they would have. >> the big companies would hire you to do branding and mar
we are here part of our road trip speaking about the economy, the fiscal cliff. now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be...
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Nov 23, 2012
11/12
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. >>> the holiday consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's inve
. >>> the holiday consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as...
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Nov 21, 2012
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they continue to get bad news about the economy. city gro citigroup announcing they're going to close nearly half their branches there. only have 37 to start with. in the meantime, because this deal isn't done today, angela merkel of germany coming under intense fire in her home country and looks like the coalition's getting tougher to keep together because she hasn't been able to get this deal done. she faces re-election later on next year. big news that we haven't covered much here in the ice, but it's a huge deal. "wall street journal" reporting looks like blancor and estrada going to get approved. rising into this news. this is going to be a huge mining natural resources company worth about 70 billion euros and while we are on vacation tomorrow, u.k. prime minister is going to face off against the other european ministers and leaders because they're fighting over the e.u. budget. the budget for the european government. it's only a trillion dollars over seven years, but there's still a lot of arguments about it. at least that's h
they continue to get bad news about the economy. city gro citigroup announcing they're going to close nearly half their branches there. only have 37 to start with. in the meantime, because this deal isn't done today, angela merkel of germany coming under intense fire in her home country and looks like the coalition's getting tougher to keep together because she hasn't been able to get this deal done. she faces re-election later on next year. big news that we haven't covered much here in the...
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Nov 19, 2012
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they have huge underground economy. it seems like in all these instances, and -- even health care, how many comparisons do we see in health care? they are not accurate comparisons. we look to canada. we talk about canada. they have, what, 34 million people? we have 330 million people. you look towards uk. they always talk about their health care. they have 60 million people. these are just small bits of what our 1/6 of the economy will look like. in the end, red tape, over market blues. i think that whether it is in this country or it is in europe, the common denominator is what makes markets move seems to be words. listen, intellectuals, we have a boat load of intellectuals on cnbc of smart people. i have learned something today. yes. on this monday, november 19, i learned that intellectuals are gullible people. that's what i have learned. whether it is in europe, whether it is spain, whether it is greece or whether it is the u.s. in a lame duck session we all do want to rise above and everybody hears that roar shack t
they have huge underground economy. it seems like in all these instances, and -- even health care, how many comparisons do we see in health care? they are not accurate comparisons. we look to canada. we talk about canada. they have, what, 34 million people? we have 330 million people. you look towards uk. they always talk about their health care. they have 60 million people. these are just small bits of what our 1/6 of the economy will look like. in the end, red tape, over market blues. i think...
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Nov 16, 2012
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i believe that this -- we can't control the economy or the stock market but we feel good about our economy and the level of interest. >> ms. lo, can you talk about who your competitors are and one of the things we've been talking about is dell is going by the wayside. sears. who are you replacing? who would i have used before and now i use you? >> we make wi-fi equipment for service providers and enterprises. our equipment is extremely reliable and easy to deploy. and now with so many mobile devices and the whole interest in mobile internet, we are helping service providers add capacity to the network. so we're actually replacing older wi-fi equipment but we're adding capacity and not replacing anything. >> so what differentiates you? i don't understand what differentiates you from much larger competitors like cisco. >> we have some unique technologies, one of which is a smart antenna system that can in realtime steer signals around interference. with the increasing number of wireless devices and number of networks out there, there is just a lot of noise in the air and everybody's work slo
i believe that this -- we can't control the economy or the stock market but we feel good about our economy and the level of interest. >> ms. lo, can you talk about who your competitors are and one of the things we've been talking about is dell is going by the wayside. sears. who are you replacing? who would i have used before and now i use you? >> we make wi-fi equipment for service providers and enterprises. our equipment is extremely reliable and easy to deploy. and now with so...
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Nov 12, 2012
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economy and what ripple effects it will have globally. there's also of course concern about what's going to come of the eu finance ministers meeting over greece and that's going to be an impact on the markets and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report today from the international energy agency where they said that they believe that the u.s. will become the top oil producer in the world by 2020. overtaking saudi arabia. overtaking russia and the fact that u.s. will be self-sufficient by 2035. this is a huge sea change in the debate that we've been hearing about the dependence on foreign oil, about green energy and the fact that we're looking at this share revolution is having an impact not only on oil markets but natural gas markets here in the u.s. and international energy agency highlighting this in
economy and what ripple effects it will have globally. there's also of course concern about what's going to come of the eu finance ministers meeting over greece and that's going to be an impact on the markets and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report...
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Nov 9, 2012
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i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take it anymore. i can't take it anymore. when you're a research department, that's what goes on. when i get up every morning, i think of cisco. >> and there's the opening bell. >>> and european consumers are looking to stretch their euro, they're coming on line to get their loyerer prices. >> i'm putting fact in our political process here, which is dangerous but think we'll get clarity. clarity is key. >>> hard to believe. we've almost made it to the end of the week. good morning. welcome to "squawk on the street." the dow up 22. s&p's getting p 6.5 back at
i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take...
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Nov 8, 2012
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it's a command economy. maybe they can pull it off. if they do it, they can take the whole world with them up, up. >> the governor hinting perhaps the data to be released tonight, tomorrow in china, will be better than expected. hinting at continuing slow growth. slow but it is growth and that's the important thing coming to china. we're getting notes and recognize there's certain china stocks. truck engines. we are seeing that last month was good. now, that's very contrary to what a lot of other retail and people saying retail commentary, distorted by the weather. but this china trade is gaining momentum, not losing momentum. at the same time that i feel that united states is losing momentum. >> interesting comments out of the boe. we knew that central banks doing nothing and governors now saying, qe which they have been pouring on for a long time, going to flatten out at the asset purchase levels and not having the impact. >> china trade. second is housing. i think they haven't done enough to be able to revitalize to be what i regard
it's a command economy. maybe they can pull it off. if they do it, they can take the whole world with them up, up. >> the governor hinting perhaps the data to be released tonight, tomorrow in china, will be better than expected. hinting at continuing slow growth. slow but it is growth and that's the important thing coming to china. we're getting notes and recognize there's certain china stocks. truck engines. we are seeing that last month was good. now, that's very contrary to what a lot...
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Nov 7, 2012
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economy. spain where that is and so many others. no big surprise. always something of a surprise in terms of what issues we pay attention to in our markets and days that we've seen things that we said that's worrisome or perhaps that's positive but our market focuses on something else and then days like today where you might at least make the argument, we'll see, that there is a focus on europe once again now that we cleared up who will be president for the next four years. >> interesting piece that came out. you have to read everything these days. >> you read it in original german. >> of course. >> was that yiddish? >> exactly. >> just making sure. >> german and yiddish are very close. the notion of how many times geithner talked. this administration putting this out because administration works closely with europe and romney administration as we know from michigan debate that we were at would not make those calls. just be aware that's another difference between the two. >> when we come back
economy. spain where that is and so many others. no big surprise. always something of a surprise in terms of what issues we pay attention to in our markets and days that we've seen things that we said that's worrisome or perhaps that's positive but our market focuses on something else and then days like today where you might at least make the argument, we'll see, that there is a focus on europe once again now that we cleared up who will be president for the next four years. >> interesting...
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Nov 6, 2012
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issue is job security for my husband. >> economy. it's the main and the debt. >> i want to reduce regulation. >> when we look at it, it was over 40 years virginians didn't put a democrat into the white house until president obama came along. he won largely because of voters in the north. this is north versus south. northern virginia much more liberal. 23% population growth over the last ten years. a lot of that hispanic people moving into the state. in the south, still a very conservative southern virginia. it will be north versus south. what we have seen in the polls today, a lot of people coming in. it's a gorgeous day. it will be high voter turnout. polls close at 7:00 p.m. this will be an early read on 13 crucial electoral votes from virginia. back to you. >> and some say an early tell about the race at large. thank you very much. let's get to capital markets this morning. gary cominski is here on set. >> as far as voting, i did vote this morning. no electricity, power where i am. life is still pathetic. we'll get to that later.
issue is job security for my husband. >> economy. it's the main and the debt. >> i want to reduce regulation. >> when we look at it, it was over 40 years virginians didn't put a democrat into the white house until president obama came along. he won largely because of voters in the north. this is north versus south. northern virginia much more liberal. 23% population growth over the last ten years. a lot of that hispanic people moving into the state. in the south, still a very...
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Nov 5, 2012
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this is battery driven economy. it's battery driven. that's what they want. >> when we come back, is there any relief coming for that long gas line you might have waited on this morning? we'll go to the source and ask a station owner how his inventory is holding up. >>> on the same page reading different paragraphs, we'll get a read with john engler. the name your price tool shows you a range of coverages, and you pick the price that works for you. great. whoa, whoa, jamie. watch where you point that thing. [ mocking ] "watch where you point that thing." you point yours, i point mine. okay, l-let's stay calm. [ all shouting ] put it down! be cool! everybody, just be cool! does it price better on the side? no, it just looks cooler. the name your price tool, only from progressive. call or click today. i got you covered. thank you. oh, you're so welcome. ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> it's an important week and important
this is battery driven economy. it's battery driven. that's what they want. >> when we come back, is there any relief coming for that long gas line you might have waited on this morning? we'll go to the source and ask a station owner how his inventory is holding up. >>> on the same page reading different paragraphs, we'll get a read with john engler. the name your price tool shows you a range of coverages, and you pick the price that works for you. great. whoa, whoa, jamie. watch...
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Nov 2, 2012
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economy is hard to measure. that's why it's important to take a broad look and not overreact to any particular report, try to keep the numbers in perfespective. >> dr. krueger, thank you so metropolitan for your time. good to see you as always. >> thank you. >> alan krueger from the white house. >>> we continue on ipo watch, one of the three here at the new york stock exchange trading higher, $23.20 the last trade. i want to go to bob pisani in the crowd. restoration hardware, bob, it looks like the top end has risen. >> reporter: yes, $32 to $32.25. remember, the range here, $22 to $24, priced at $24. the talk and they hand icap basd on what they think the demand is, but $2 at $26 looking at $32. i am told the deal was 28 times over subscribed and you don't have anything to compare that to, that's a lot. you hear four times oversubscribed but on those numbers that's quite a remarkable number. remember, the ipo trend here, keep the size smaller. we're dealing with over 5 million shares. that's not a lot. the two
economy is hard to measure. that's why it's important to take a broad look and not overreact to any particular report, try to keep the numbers in perfespective. >> dr. krueger, thank you so metropolitan for your time. good to see you as always. >> thank you. >> alan krueger from the white house. >>> we continue on ipo watch, one of the three here at the new york stock exchange trading higher, $23.20 the last trade. i want to go to bob pisani in the crowd. restoration...
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Nov 1, 2012
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is that a cost to the economy or is that a negative? what happens here normally is you get a decline in business activity. >> in general, these things are seen as negative for the economy, you can't destroy things and rebuilt them and hope to run a regrowth strategy on th that. >> a lot of this took place on the seacoast and flood insurance usually doesn't cover are that. when you have the initial impact as negative, the recovery is spread out over several quarters and very hard to isolate, the initial impact is very big. and the ones affecting the income side of the equation and having these uninsured losses is going to be -- >> i read one market watcher yesterday, guys, wrote, if your house got flooded, you better hope a tree fell on it first given the way that flood insurance is working right now. >> just to reiterate what steve said, people pay for it one way or the other. people are going to pay for it out of their own pocket or fema is going to come in and pay for it that the people in general end up bearing. >> a transfer of weal
is that a cost to the economy or is that a negative? what happens here normally is you get a decline in business activity. >> in general, these things are seen as negative for the economy, you can't destroy things and rebuilt them and hope to run a regrowth strategy on th that. >> a lot of this took place on the seacoast and flood insurance usually doesn't cover are that. when you have the initial impact as negative, the recovery is spread out over several quarters and very hard to...
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Oct 29, 2012
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what impact could that have on a weak economy. that's next on cnbc. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregn
what impact could that have on a weak economy. that's next on cnbc. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. try running four.ning a restaurant is hard, fortunately we've got ink. it...
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Oct 26, 2012
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economy is one of muted growth. but strong enough growth that that $200 billion or $250 billion fiscal drag should not tip us into recession. >>> good friday morning. welcome back to post nine of the new york stock exchange. check the markets on a day where the dow is in the red. we started the day out relatively flat, up a little bit. we loftst some ground. s&p 500 down 6.5. white wave foods, the dean foods spinoff, making its trading debut at the nyse. shares opening at 19. pulling back a bit, trading around 17. dean foods also down sharply. the ceo was on the show earlier, addressing the company's balance sheet. >> a category that's not going away. it's a big staple food product. and dean foods historically has and will make money in the milk business. it's a solid business. now it's going to have a really solid balance sheet to support the strategic endeavors going forward. >> meantime expedia, priceline, some of the biggest gainers after expedia reported better than expected results. and benchmark citing to buy
economy is one of muted growth. but strong enough growth that that $200 billion or $250 billion fiscal drag should not tip us into recession. >>> good friday morning. welcome back to post nine of the new york stock exchange. check the markets on a day where the dow is in the red. we started the day out relatively flat, up a little bit. we loftst some ground. s&p 500 down 6.5. white wave foods, the dean foods spinoff, making its trading debut at the nyse. shares opening at 19....
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Oct 24, 2012
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>> our economy is a service based economy. housing and retail based economy. i'm not hearing bad things. >> that's a good point. >> europe is bad. i was pessimistic about europe. china, maybe a little positive. united states, i'm not hearing enough negatives to be as glum as i would like to be. >> you would like to be glum? i don't think you want to be glum. >> buffalo wild wings wasn't that good even though i ordered three free separate orders of wings last week in ohio. that didn't make it. didn't happen. >> you must have worked those off in this morning's 4:00 a.m. workout. >> i'm dropping weight. people at home, it's by design. >> when we come back, exclusive with one of wall street's heavy hitters. lloyd blankfein, 11:00 a.m. eastern time. a lot to discuss and ahead, broadcom will be in talk about it's quarterly results. one more look at futures as we try to compare some of the damage from yesterday. back in a minute. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning,
>> our economy is a service based economy. housing and retail based economy. i'm not hearing bad things. >> that's a good point. >> europe is bad. i was pessimistic about europe. china, maybe a little positive. united states, i'm not hearing enough negatives to be as glum as i would like to be. >> you would like to be glum? i don't think you want to be glum. >> buffalo wild wings wasn't that good even though i ordered three free separate orders of wings last week...
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Oct 23, 2012
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remember, they're an export economy. look at this chart. intra today or open it up to june, you can see these are highest levels for the dollar since june. everybody is talking about spain. they didn't have great data. then again, very little. we hear they are set up to help their economy. set up to help their refinancing operations. back over 3%. we're way down where we were. it definitely is a pop in rates. back to you. >> thank you. let's check out latest moves in energy and metals. let's go to sharon epperson. >> bears are firmly in control across the board in the commodity space and there's a great deal of concern about spain. that started the sell-off that we saw overnight. then of course growth concerns really are front and center whether we're talking about the world's fourth largest steel maker in south korea or we're talking about dupont and caterpillar at home. it really underscores what bob was talking about. the multiindustry global industrial companies that are seeing weakness affecting industrial commodities as well. oil pric
remember, they're an export economy. look at this chart. intra today or open it up to june, you can see these are highest levels for the dollar since june. everybody is talking about spain. they didn't have great data. then again, very little. we hear they are set up to help their economy. set up to help their refinancing operations. back over 3%. we're way down where we were. it definitely is a pop in rates. back to you. >> thank you. let's check out latest moves in energy and metals....
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Oct 22, 2012
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and the economy in europe is pretty tough. but even with that in the third quarter, in the americas we were up high single digits. europe, which has both the weather challenge from last year and the economic challenge was down mid single digits. asia which really doesn't have either was up over 60% in the quarter. so we knew we were going to have a sell-in issue, for us now it comes down to sell through. and we're confident in our ability to sell through on the fourth quarter. >> so north face goes -- this was sequentially from q-2, goes from 16 to 8 in this recent quarter, but you still see q-4, 13 to 15. it's almost as if you think the third quarter is really going to be a blip in the course of the year. >> it is a blip, and it all gets down to the fact that we had retailers last winter who did not sell through the outerwear, northern boots because it was such a warm winter. rather than give them away and discount them, they packed them away for this winter. so that reduced our sell in for fall. we expect strong sell through
and the economy in europe is pretty tough. but even with that in the third quarter, in the americas we were up high single digits. europe, which has both the weather challenge from last year and the economic challenge was down mid single digits. asia which really doesn't have either was up over 60% in the quarter. so we knew we were going to have a sell-in issue, for us now it comes down to sell through. and we're confident in our ability to sell through on the fourth quarter. >> so north...
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Oct 19, 2012
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>> i think they are delusional in this economy with this political, not economic and financial, just economic and financial, with this political uncertainty. my advice would be to executives and boards and et cetera be careful because there's an election in a month. it's a very volatile political atmosphere. and it's fair game executive comp in times of financial uncertainty. >> yeah. so you think that's the bigger factor -- most of the people on our air point to return on equity and the economic engine that drive earnings at these banks is not what it used to hence comp has to come down. do you think it's the fair if thoerp raise salaries and bonuses there would be hell to pay on the hill >> there's some concern about that. i do agree with you. i agree most of this discussion about executive pay is driven by conventional traditional market forces, competition, the volatility of markets, financial uncertainty, i don't think much of it has to do with treasury regulations or the ongoing role of the pay czar or agency activity. i think right now it's more the free market and the impact
>> i think they are delusional in this economy with this political, not economic and financial, just economic and financial, with this political uncertainty. my advice would be to executives and boards and et cetera be careful because there's an election in a month. it's a very volatile political atmosphere. and it's fair game executive comp in times of financial uncertainty. >> yeah. so you think that's the bigger factor -- most of the people on our air point to return on equity...
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Oct 18, 2012
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economy right now? >> well, you know, my views probably aren't a lot different than a lot of the ceos that you bring on to the show. you know, everybody's hesitating. you see that especially in our enterprise solutions group. so we've got issues with what's going on in europe because we've got a strong business there. and in the u.s., everybody's kind of waiting to see until after the election and what happens on the tax rates on what kinds of investments they should be making. so we're obviously hopeful that no matter what party gets into the white house that we are able to deal with this quickly and move past this fiscal cliff before it really has another negative impact to the economy. >> yeah, lowell, as always, appreciate your time. thanks for joining us. >> great to talk to you, thanks. >> lowell mcadam, carl? >> great insight. >>> if you are confused by the lyrics in rap songs, you are not alone. rapgenius is translating lyrics from all walks of the genre. why the vc world is buzzing about rapgen
economy right now? >> well, you know, my views probably aren't a lot different than a lot of the ceos that you bring on to the show. you know, everybody's hesitating. you see that especially in our enterprise solutions group. so we've got issues with what's going on in europe because we've got a strong business there. and in the u.s., everybody's kind of waiting to see until after the election and what happens on the tax rates on what kinds of investments they should be making. so we're...
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Oct 17, 2012
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our economy is much better. on the math side, fact checkers for these debates are just as horrible as some of the facts being thrown out by both candidates. i will tell you this. you can slice it any way you want. the president was sworn in in mid-january of '09. if i go back and look at nonfarm -- and i have all the data. actual nonfarm payrolls, the establishment survey, the headcount survey, and i take the 818 minus thousand from january because he wasn't sworn in until the middle of the month. do the math. you know what the math is? it's a push. it's a push. there's zero jobs created. it's a push. if you look at the minuses and the pluses, it's a push. where they get all these numbers, well, they were going down for -- listen. whether it's cub managers or the president, january of '09 to today, throw out january, it's a push, basically zero. back to you. >> hopefully, people are smart enough to know where they're getting that 5 million, rick. great point. talk to you in a few moments. >> they're not counting
our economy is much better. on the math side, fact checkers for these debates are just as horrible as some of the facts being thrown out by both candidates. i will tell you this. you can slice it any way you want. the president was sworn in in mid-january of '09. if i go back and look at nonfarm -- and i have all the data. actual nonfarm payrolls, the establishment survey, the headcount survey, and i take the 818 minus thousand from january because he wasn't sworn in until the middle of the...
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Oct 16, 2012
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. >> bottom line, economy, jobs, fiscal responsibility. we need substance and solutions to avoid the cliff and abyss, both. >> david, thank you. >> join us tomorrow. "squawk on the street" with more on this pandit news is up next. >>> as you've been listening stunner at citigroup. vikram pandit stepping down as the banking giant ceo. good morning. welcome to "squawk on the street". i'm carl quintanilla with melissa lee, jim cramer. pandit is resigning effective immediately. he's being succeeded by michael corbat who previously served as citigroup of europe. the changes come one day after citi's earnings beat expectation in a conference call which, of course, jim said absolutely nothing about this. >> no. this was the first quarter that was the break out quarter for international. first time that i felt that the company had put a lot of its problems behind it. best knit interest margin. we only had a couple of banks report. people are trying to present this this was logical, this was in the works. this was the least logical, least in the wo
. >> bottom line, economy, jobs, fiscal responsibility. we need substance and solutions to avoid the cliff and abyss, both. >> david, thank you. >> join us tomorrow. "squawk on the street" with more on this pandit news is up next. >>> as you've been listening stunner at citigroup. vikram pandit stepping down as the banking giant ceo. good morning. welcome to "squawk on the street". i'm carl quintanilla with melissa lee, jim cramer. pandit is...
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Oct 15, 2012
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you know we would somehow relate it to the economy. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ together for your future. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> oil
you know we would somehow relate it to the economy. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ together for your...
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Oct 12, 2012
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economy, might be about the chinese economy. number two, if you look at europe, the three cyclical industry groups that have the greatest exposure to europe are autos, materials and lastly capital goods. i'm not that worried about phrma being exposed because people still need drugs but they don't have to go out and buy copper. one last point, and i know you're edging to get in -- >> only about picks. you've got a top 20 and it's quite echeck particular. >> we tend to look at what our analysts are recommending and i don't want to say we just give it to them, because we do look and put some sector exposure -- i couldn't rattle off the names -- >> let me do it for you then. aetna, csx, google, qualcomm, aes, the top. >> and if you look at a few of those, that will fit with some of those sector calls we're making, as well. where we think that those are better positioned. i would add, one last point on this. the aspect about the european exposure is important to understand different ways, because materials in the u.s. is 70% chemical
economy, might be about the chinese economy. number two, if you look at europe, the three cyclical industry groups that have the greatest exposure to europe are autos, materials and lastly capital goods. i'm not that worried about phrma being exposed because people still need drugs but they don't have to go out and buy copper. one last point, and i know you're edging to get in -- >> only about picks. you've got a top 20 and it's quite echeck particular. >> we tend to look at what...
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Oct 11, 2012
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unique time in the history of the economy of this country and this is absolutely a pure play. we're not a builder. we're not a retail. we're not home depot or sherwin williams. we are a fee-for-service. we represent 93% of the business. so it is a terrific opportunity. >> the company went private at about 12.7 times, there are those who say that that number itself may be overstated, that you take a lot of one-time expenses that should be excluded. how do you respond to those who say those one-time expenses keep occurring and therefore we are a little concerned. >> actually one-time expenses will abate over time. those are legacy issues. i think the real attractiveness is the free cash flow generation of this company. we're essentially eliminating half of our interest expense. deleveraging of the company and a macro environment will contribute substantially to the benefit of our shareholders. >> you think you can also refinance? you have about a 7.5% cost-to-cap at this point. >> listen, this creates optionality and we're going to be in the position of having the option to do a
unique time in the history of the economy of this country and this is absolutely a pure play. we're not a builder. we're not a retail. we're not home depot or sherwin williams. we are a fee-for-service. we represent 93% of the business. so it is a terrific opportunity. >> the company went private at about 12.7 times, there are those who say that that number itself may be overstated, that you take a lot of one-time expenses that should be excluded. how do you respond to those who say those...
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Oct 10, 2012
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are you arguing their audience is less affected by a downturn in the economy, given their relatively high income level? >> i think the fees are a given. they are continually trying to drive membership fees. what i'm arguing is the demographic that they serve is going to be more cost conscious. i think that all of the stores, i heard jim talk about dollar stores, i think all of the stores basically work to try to deliver goods to consumers at a cost effective way are going to capture market share than the so-called standard retailers. you're seeing exactly the same thing with outlet malls capturing business from shopping malls. >> brian, i want to get to you and we'll talk about your home depot downgrade in a moment. part of that downgrade, the crux of it actually is a valuation basis. when it comes to costco we're looking at a stock trading about a 29 pe, about a 26 forward pe. help us understand historically what the peak valuation for costco is and where you put that in terms of its peers, because its shoppers are not the walmart shoppers out there. they're more like the nordstrom
are you arguing their audience is less affected by a downturn in the economy, given their relatively high income level? >> i think the fees are a given. they are continually trying to drive membership fees. what i'm arguing is the demographic that they serve is going to be more cost conscious. i think that all of the stores, i heard jim talk about dollar stores, i think all of the stores basically work to try to deliver goods to consumers at a cost effective way are going to capture...
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Oct 9, 2012
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these numbers don't square with what's going on in the economy. say what you want. >> i think they should default. i think they should devalue and give themselves an opportunity to trade their way back to prosperity and they would also get back the democracy, ability to govern themselves and perhaps some sense of hope. >> the world bank is saying the obvious. if you continue to call for austerity, you can't get growth. it is like do you want growth or do you want austerity. this is a true battleground. it has that feeling of coming over the top, 60,000 people die in the first three hours and i don't want to touch this thing. it is too hot. it is sizzling. >>> research in motion, jeffries, says it might be delayed here. >> becky quick got this out of the ceo and now it is common? please. just watch squawk. >> i wouldn't bet my house on the fact that greece is leaving the eurozone, but i certainly think as this continues at some point the greeks will look around and say is this working and so far the answer is unquestionably no. >>> good morning, an
these numbers don't square with what's going on in the economy. say what you want. >> i think they should default. i think they should devalue and give themselves an opportunity to trade their way back to prosperity and they would also get back the democracy, ability to govern themselves and perhaps some sense of hope. >> the world bank is saying the obvious. if you continue to call for austerity, you can't get growth. it is like do you want growth or do you want austerity. this is...
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Oct 8, 2012
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is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in china down from a previous forecast of 8.2%. the world bank citing weak global demand due to the european crisis and a slow u.s. recovery. data from europe showing industrial output in germany fell .5% in august. lots to digest. the world bank note was interesting. what they pointed out was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out th
is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in...
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Oct 4, 2012
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they'll drive the economy the wrong way. and when it came to closing loopholes, the only loophole he was willing to talk about, i wish he had talked about closing the kerry loophole. that would have been an interesting one. that's a big inexcusable one. but instead he said he'd get rid of big bird. as we all know, that's not going to do it. he's just not honest on either the tax side or the revenue side. but, look. i used to work at boston consulting group, too. mitt is a great presenter, and he made a good presentation last night. >> and i assume you have thoughts on -- and i don't want to get too much into the style because that is all anyone's talking about today. but you must have some explanation for why the president appeared the way he did and why he chose to leave out some bullet points that he could have pulled out of his pocket. >> sure, look. i think the president focused on the facts and focused on his accomplishments and his plans for the future. and he was very factual in what he did. and as many people have sa
they'll drive the economy the wrong way. and when it came to closing loopholes, the only loophole he was willing to talk about, i wish he had talked about closing the kerry loophole. that would have been an interesting one. that's a big inexcusable one. but instead he said he'd get rid of big bird. as we all know, that's not going to do it. he's just not honest on either the tax side or the revenue side. but, look. i used to work at boston consulting group, too. mitt is a great presenter, and...
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Oct 3, 2012
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the service sector, the bigger part of the economy. this september number we're expecting, basically a lateral move. 53.7 was our last look and we're also coming off of several other data points. adp was better than expected at 162. high ironic, we stripped away last month's revision. we could argue about the fed in qe 3 but initially re-fis have popped and we're waiting for it, the markets are moving a little bit. equities are 55.1. they've had it. they started to rally. much better than expected. much better than our last look and it's the best number going back to march. march when you had a number of 56.0. we've pretty much taken away the down on equities and we've moved the basis point higher on tens to a middle of five-basis point closing range over the last week and that is at 163. melissa lee, back to you. >> thank you very much, rick santelli. slight pop in the equity market. steve? >> really interesting number here. rick said stronger than expected along with the ism manufacturing number. the business activity number, up to a
the service sector, the bigger part of the economy. this september number we're expecting, basically a lateral move. 53.7 was our last look and we're also coming off of several other data points. adp was better than expected at 162. high ironic, we stripped away last month's revision. we could argue about the fed in qe 3 but initially re-fis have popped and we're waiting for it, the markets are moving a little bit. equities are 55.1. they've had it. they started to rally. much better than...
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Oct 2, 2012
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what does this say about our economy and about what's going on in china? joins us is david, lenov ooleno president of north america. how did this get decided, and when does it all come down? >> what we will announce today is we're expanding or facility in north carolina to bring u.s. manufacturing starting in january through our think product portfolio. our think pad notebooks and think server workstations and servers. we're very excited about this. it's really bringing a differentiator for us versus the market. we believe there's a customer demand for u.s. manufacturing not only for the manufacturing presence but also what we could bring to differentiate ourselves around the customer experience that a local manufacturing plant provides us the flexibility to do. >> were these jobs that were elsewhere that are essentially being imported into the country, or are these new jobs? >> these will be new jobs we're creating. as you may not know, we're the faste fastest-growing pc player in north america for the last nine quarters and have expanded our presence in
what does this say about our economy and about what's going on in china? joins us is david, lenov ooleno president of north america. how did this get decided, and when does it all come down? >> what we will announce today is we're expanding or facility in north carolina to bring u.s. manufacturing starting in january through our think product portfolio. our think pad notebooks and think server workstations and servers. we're very excited about this. it's really bringing a differentiator...